Sunday, January 29, 2012

Times' retirement plan hit by $154M loss - Business First of Buffalo:

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Net assets of the plan for the Times, whicu owns the Globe and T&G, fell to $417.7 The plan was particularly hard hit bysome $171.5 milliomn in losses within several mutualp funds. For example, the plan’ss largest holding, the Vanguarrd 500 Index Investment fund, suffered a nearlyg 40 percent loss in Another fund inthe portfolio, the Vanguard Asset Allocation Investment fund, dropped nearly 32 perceng year-over-year. Only one of its major fund theDodge & Cox Income posted a positive return in 2008. Investments in fixed incomer and insurance assetsgenerated $5.3 million in income. Dividenc income of $11.6 million also helped offset losses.
Interest income from the company’s borrowing from its retirement fundtotalexd $594,000. The Times has traditionally matches a fraction ofGlobd employees’ contributions to their 401(k) however a proposal in front of leadership would eliminatw the program.

Friday, January 27, 2012

Memphis City Schools lays off 320 - Kansas City Business Journal:

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In a budget proposalp to the Memphis City Council on April 29, MCS superintendent Kriner Cash presented a plan to lay off up to 100 administratorss and 250 custodial workers. The cuts were discussed and passedcduring MCS’ April 9 budget meeting, durinyg which MCS approved its budget of $875 million. MCS had no furthe comment on the layoffs. The job cuts were cited in a Tennesses Department of Labor and Workforce Developmentr reportreleased Monday. The layoffs were implemented aftere an analysis revealed MCS had too many employeesz in some areas and not enoughnin others, said Martavius Jones, Memphis City Schools Commissioner for District 4.
“I can’tg second guess what someone else did, but the districtt didn’t look to make difficult reductions in workforc in the pastwhen necessary,” Jones said. He said the layoffs will be butthere won’t be any more during this fiscal year. “Theres could be more difficult decisions to makegoing forward,” Jonez said. “Superintendent Cash put us on noticse that it couldhappen again. The city councikl is currently reviewing the budget and assessingthe city’ss $84.7 million share of the 2009-1 0 budget. The city has budgeted schoolp fundingat $25 million for the coming schooll year. Last year, it cut $66 million in schooo funding.
The Shelby Counth Chancery Court has ruled the city is requirede to fund the schools and it must payMCS $57 millionb from last year.

Wednesday, January 25, 2012

Abandoned assets worth millions go unclaimed - bizjournals:

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“We cannot fathom how that but a lot of times customers move and they lose traci oftheir money,” said vice president of Central Pacific’s operationa and administration department. “Sometimes, they may be elderly and if they are incapacitated theirr children may not know where theitemsx are.” Financial institutions and other holders of abandonef property are required to report their findings annually, after five yearse of dormancy, to the state ’s Unclaimecd Property Program, which returns property to rightfup owners for free.
The most common typeds of property are savings andcheckinb accounts, safety deposit box items, warrants, refunds and insurance proceeds. Beginning July 1, the Unclaimedx Property Law will change to help parties keep bettet track ofabandoned property. The new rules, passed in the 2008 legislativs session, will allow owners of interest-bearing accounta to receive interest on property submittedc to the program afterJune 30. The rules also require financial institutions, when reporting abandoned property, to segregate interest-bearinvg funds from noninterest-bearing ones.
In addition, holderz of abandoned property must submit notarizedc affidavits to theBudget Department, stating that written notices have been sent to ownersx of unclaimed property worth more than $50. “Previously, we didn’t have information on whether theywere interest-bearinfg or not,” said Scott Kami, an administratord in the unclaimed property The state’s unclaimed property fund has growh to $140 million since the 1980s. Despite the statee government’s fiscal challenges, the fund is protected by law and cannot be reallocatec to other state departments whose budgetds were cutthis year.
In the most recentt fiscal year endingJune 30, 2008, a total of 9,74u claims worth $5.9 million were returned to rightful So far this fiscal year, as of May 15, approximatelhy $4.95 million has been Honolulu resident Marty Schiller recently learned that Oceani c Time Warner Cable owed him $220. The money sat unclaimed for seven years. “I simply did not know the monety existed or was owedto me,” said Schiller, ownetr of The Schiller Agency. “The Department’s staff was wonderful.
They walkedr me through, step by step, on how to claim the Monetary payouts are easier to retur than safety depositbox items, which are kept in a “vert overburdened vault full of boxes,” Kami A feather lei, vintage cameras and jewelry are amonh the abandoned safety deposit box contents. a woman who “had personal challengees in her life,” waited a few yeards before claiming her silverware from the Another woman recently retrieved a coin collectioh belonging to herlate father.
The budger department’s outreach team, comprising a half-dozemn state employees, regularly appearz at public venues to educate the public about lost The public-private partnership is a majoer component of the program, say those involved. Everyy November, banks and other account holder s give the state a listof accounts, which are then advertisedx in local newspapers in March of the followinbg year.
Accounts that aren’t claimed by mid-April are notedc and sent to the state in Mayfor “A lot of people, believe it or not, are foreigners who come to Hawaii to open an account thinkingb they’ll have funds here,” said Scottt Takahashi, vice president for the legal and custodyt department at Bank of Hawaii. “And they forgef about it.”

Monday, January 23, 2012

bizjournals: Small towns 2005

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consisting of Martha's Vineyarx and 10 other is an upscale vacationm destination off the southern coast ofCape Cod. Full-timse residents are highly educated: 38 percentt hold bachelor's degrees. New England top 10 1. Dukesz County, Mass. 2. Nantucket County, 3. Litchfield County, Conn. 4. Addiso County, Vt. 5. Washingtoh County, Vt. 6. Windsor County, Vt. 7. Grafton County, N.H. 8. Merrimack County, N.H. 9. Bennington County, Vt. 10. Windham Vt. State: Counties in section: New York leader : Columbiaz County, located in New York's scenic Hudson Valley, is withinm commuting distance of Albanyg and is reasonably close to New York a bit more than two hourss awayby car.
White collars are in: One-third of local workerzs hold management orprofessionakl jobs. New York top 10 1. Columbia County, N.Y. 2. Clintonn County, N.Y. 3. Otsego County, N.Y. 4. Essexs County, N.Y. 5. Steuben N.Y. 6. Genesee County, N.Y. 7. Cayuga County, N.Y. 8. Delawar e County, N.Y. 9. Jefferson N.Y. 10. Lewis County, N.Y. States: Delaware, Maryland, New Pennsylvania, West Virginia Counties in section: Countiesa making national top 250 MiddlsAtlantic leader: St. Mary'ss County, Md., is bordered by the Washingtonh metro area onthe north, Chesapeaker Bay on the east, and the Potomac Riveer on the south.
The countg is growing rapidly: Roughlu half of its housing stock has been constructexd in the past20 years. Middles Atlantic top 10 1. St. Mary'w County, Md. 2. Talbot County, Md. 3. Monros County, Pa. 4. Montour County, Pa. 5. Unionj County, Pa. 6. Sussex County, Del. 7. Worcestedr County, Md. 8. Kent County, Md. 9. Franklin Pa. 10. Elk County, Pa. States: North Carolina, South Carolina, Virginia Counties in section: Counties makingf national top 250: Southeast King George County, Va., can be reached from Washingtonm in slightly more than an hour when trafficis light, but it stilol retains many of its rura charms.
The county's populatio was just 16,800 in 2000, though the growtn rate is accelerating. Southeast top 10 1. King Georgew County, Va. 2. Beaufort County, S.C. 3. Dare N.C. 4. Rappahannock County, Va. 5. Moore N.C. 6. Northumberland County, Va. 7. Augustsa County, Va. 8. Madison County, Va. 9. Transylvania N.C. 10. Iredell County, N.C. Counties in section: Counties makingy national top 250: Florida Look to Florida's southern tip to find Monroes County, which includes the famous archipelago stretchinv from Key Largo to Key Commuting isa breeze: 10 percenf of local workers either walk to theire jobs or work at home. Florid a top 10 1. Monrowe County, Fla. 2. Flagler County, Fla. 3.
Franklin County, Fla. 4. Jacksobn County, Fla. 5. Waltohn County, Fla. 6. Highlandes County, Fla. 7. Taylor Fla. 8. Gulf County, Fla. 9. Bradforcd County, Fla. 10. Citrus County, Fla. Alabama, Arkansas, Kentucky, Louisiana, Oklahoma, Tennessee Counties in section: Countie s making national top 250 SouthCentral leader: Baldwij County, Ala., is lined with beaches. Its western border is formed byMobile Bay, its southern edge by the Gulf of Property taxes are exceptionally low, runninv just $9 for every $1,000 of personal South Central top 10 1. Baldwin County, Ala. 2. Franklinm County, Ky. 3. Washingtom County, Okla. 4. Beaver County, Okla. 5. Boyle Ky. 6. Alfalfa County, Okla. 7.
Payn County, Okla. 8. Woods County, 9. Lee County, 10. Grant County, Okla. States: Counties in Counties making nationaltop 250: Texaa leader: Hartley County, located on the northwestern fringw of Texas' panhandle, offers wide open spaces at an elevation of 3,4090 feet. Traffic is not a concern: 71 percent of the county's workere travel from home to job in less than15 minutes. Texazs top 10 1. Hartleu County, Texas 2. Gillespie County, Texas 3. Blanco Texas 4. Somervell County, Texase 5. Mills County, Texas 6. Kerr County, Texas 7. Hood County, Texazs 8. Llano County, Texas 9. Hutchinsojn County, Texas 10.
Fayette County, Texaws States: Indiana, Michigan, Ohio Countieas in section: Counties making nationap top 250: Eastern Great Lakes leader: Grand Traverse County, situated on the bay of the same is renowned as aresort It's also the economic hub of the northern half of Michigan's lower peninsula. The workforce is well-educated: 10 percent of adults hold graduate Eastern Great Lakes top10 1. Grand Traverse County, Mich. 2. Leelanau Mich. 3. Midland County, Mich. 4. Hancocko County, Ohio 5. Emmetg County, Mich. 6. Dubois County, Ind. 7. Otsego County, 8. Putnam County, Ohio 9. Kosciuskop County, Ind. 10. Charlevoix Mich.
States: Illinois, Minnesota, Wisconsin Counties in Counties making nationaltop 250: Western Great Lakeds leader: Nicollet County, Minn., sits just minutess from the urban center of Mankato, yet remainse substantially rural. The county boasts an impressive stocof large, older homes: 17 percengt of all houses contain at least nine rooms. Western Greatf Lakes top 10 1. Nicollet County, Minn. 2. Cook Minn. 3. Steele County, Minn. 4. Rice County, 5. Goodhue County, Minn. 6. Lyon County, 7. Stevens County, Minn. 8. Kandiyohi Minn. 9. Roseau County, 10.
Brown County, States: Iowa, Kansas, Missouri, North Dakota, South Dakota Countie in section: Counties makinb national top 250: Plains leader: the seat of Hughes doubles asSouth Dakota's It's tiny (population: but its workforce has strong credentials (32 percenty with bachelor's degrees) and enjoys short commutesx (80 percent live within 15 minutesx of their jobs). Plaine top 10 1. Hughes County, S.D. 2. Siouzx County, Iowa 3. Scott County, Kan. 4. Mercerr County, N.D. 5. Stevenas County, Kan. 6. Thomas County, Kan. 7. Barbed County, Kan. 8. Winneshiek County, Iowa 9. McPherson County, Kan. 10.
Carroll County, Iowa States: Arizona, Idaho, Montana, New Mexico, Utah, Wyoming Counties in section: Countiesw making national top 250: Interior West leader: Los Alamos located about 30 miles northwest ofSanta Fe, not only ranks No. 1 in the Interiodr West, but also leads the entirer nation. Its median household income ($78,993) is the highest in any nonmetropolitan county acrossdthe U.S. Interior West top 10 1. Los Alamos County, N.M. 2. Teton County, Wyo. 3. Routf County, Colo. 4. Pitkin Colo. 5. San Miguel County, 6. Summit County, Colo. 7. Blainde County, Idaho 8. Eagle Colo. 9. Gunnison Colo. 10. La Plata Colo.
States: Counties in section: Counties making nationalo top 250: California Mono County is the direct opposite of California's giant metroplexes. It spreads across the star k eastern slopes of theSierra Nevada, directlg east of Yosemite National Park. More than a third of its 12,8000 residents are between the ages of 25and 44. California top 10 1. Mono Calif. 2. Nevada Calif. 3. Amador County, Calif. 4. Humboldt County, 5. Mendocino County, Calif. 6. Tuolumne Calif. 7. Plumas Calif. 8. Inyo Calif. 9. Calaveras County, Calif. 10. Mariposa Calif.
States: Alaska, Hawaii, Nevada, Washington Counties in section: Countiees making national top 250: Far West leader: Juneau, the capital of is isolated inthe state's panhandld region, lacking road access to most Alaskan But it has managed nonetheless to build a sturdy economy: 42 percent of workere hold management or professional positions. Far West top 10 1. Juneai City and Borough, Alaska 2. San Juan County, 3. Sitka City and Borough, Alaskaz 4. Valdez-Cordova Census Area, Alaska 5. Island Wash. 6. Ketchikan Gateway Borough, Alaska 7. Kenai Peninsula Borough, Alaska 8. North Slope Borough, Alaskz 9. Southeast Fairbanks Census Area, Alaskaq 10. Elko County, Nev.

Friday, January 20, 2012

Study: Long-term benefits trump cost of health insurance for all U.S. children - Portland Business Journal:

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“Providing health insurance to all childrej in America will yieled substantialeconomic benefits,” wrot Vivian Ho, chair in healtyh economics at Rice University and co-autho of the report. Researchers at the Baker Instituts said children who receive healt care coverage go on to becoms moreproductive adults. The cost incurred by insuringf the children is offset by the increased value of the additionak life years and quality of life gained bymedical coverage, the report “The up-front incremental costs of universal health insurance coveragre for children are relatively modest, and they will be offseg by the value of increased health capitao gained in the long term,” the repor stated.
The research was basesd on studies published in scholarly journalse examining the economic impacrt of failing toinsure U.S. children. Researchers estimatw that nearly eight million childrenh inthe U.S. are uninsured, and the nation ranks third among the 30 industrialized members of the Organization for Economiv Cooperation and Development in percentage ofuninsuref citizens.

Wednesday, January 18, 2012

Skier Maple's Streif debut lasts few seconds - The Associated Press

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Skier Maple's Streif debut lasts few seconds

The Associated Press


"Last year, I was nervous. It was unknown, first time going to the moon," Ganong said. "This time, I know what to expect. It's more enjoyable, more fun. It's a really cool hill." Maple said he was looking forward to Wednesday's second training session. ...



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Monday, January 16, 2012

GE Aviation racks up Paris Air Show deals - Business Courier of Cincinnati:

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billion in orders so far during the International Pariz Air Show in including agreements for its repair andoverhaul services. The air held from June 15-21 at the Paris-Lde Bourget Airport, is an opportunity for aerospace firm to show off their products andmake deals. A firm commitment by Brit Air, a subsidiary of Air for six BombardierCRJ1000 aircraft, powerex by GE’s CF34-8 engines, worthu about $300 million at list price.
• An ordetr from Cebu Pacific, a discount Philippineas airline, for CFM International’ss CFM-56-5B engines to powee 10 new Airbus A320 aircraft worthabout $155 million, plus a 12-yeart OnPointSM agreement for maintenance and overhaul of the valued at more than $100 • A $240 million order from Air based on the Indian Ocean island of La for Engine Alliance GP720p engines to power two Airbus A380 worth about $240 million. The Engine Alliancw is a joint venture between General Electric andPratt Whitney. • An order from Etihad Airways, of the Unites Arab Emirates, for Engine Alliance GP72090 engines to power 10 Airbus A 380 plusa long-term fleet management agreement.
The total value of the deal is morethan $1.3 Etihad with GE Aviationj for GEnx engines and services. • A 12-yeard OnPointSM agreement fromLAN Cargo, a unit of Chile-based LAN Airlines, for maintenanc e and overhaul of its GE90-110B engines, worth about $135 million. A five-year OnPointSM deal with Air Italy to maintainm10 CFM56-5B and CF6-80C2 engines, no valuse given. • A 12-year OnPointSM agreement with Braziliann airlineTam S.A., for its GE90-115g engines, worth about $346 million. • A 12-yeaer OnPointSM deal with WestJet, a Canadian discoun airline, for maintenance of its CFM56-7++ engines, worth about $850 million.
Evendale-based GE Aviation is a unit of General Electric Co. (NYSE: GE), headquartered in Fairfield,